4 ms·
Trump is highly unlikely to be a billionaire. The only source for this claim was Trump himself. He took on an alter ego and lied to Forbes to get on the Forbes
by graeme 7y ago
Trump is highly unlikely to be a billionaire. The only source for this claim was Trump himself. He took on an alter ego and lied to Forbes to get on the Forbes list.
Other than Forbes, I know of no source that claimed Trump was a billionaire. I think it all goes back to the original lie.
Further, most of his charity scams have been strictly small time. Amounts ranging from $10,000 to a few hundred thousand. No billionaire needs to bother scamming figures so low. If you have, say, $5 billion in net worth and it grows at 5% per year, that’s $250 million per year.
$100,000 is strictly beneath the notice of someone with that much income. But it was not below Trump’s notice. Ergo, it seems unlikely he has the income. Again, the only source on his wealth was himself.
I should note, against my own argument, that Forbes presently thinks Trump is worth $4.4 billion. I could be wrong, but the charity behaviour seems so contrary to actually having wealth. We also know no banks other than Deutsche Bank would lend Trump money. If he truly has billions in assets not encumbered by debt....why? There seems little risk.
https://www.forbes.com/sites/danalexander/2019/05/08/why-we-took-trump-off-the-forbes-400-during-his-decade-of-tax-losses/#6851229633d9 https://www.forbes.com/sites/danalexander/2019/05/08/why-we-...
- nabla9 7y agoForbes and other magazines just sum up assets associated with wealthy individuals and don't do any real work to track debt or real owners. In many properties with Trump's name on them Trump is minority owner with small stake and these companies have huge loans. Bank Trump’s Empire: A Maze of Debts and Opaque Ties https://www.nytimes.com/2016/08/21/us/politics/donald-trump-debt.html https://www.nytimes.com/2016/08/21/us/politics/donald-trump-... Actual net worth is very hard to estimate because he is hiding his financial status as much as possible. The fact that American banks don't do business with him anymore indicates that his financial situation is not good.